By Ayya Lmahamad
Azerbaijan’s Economy Ministry and the country’s largest brewing company Carlsberg Azerbaijan have signed a memorandum of understanding.
Signed on May 18, the MoU stipulates that Carlsberg Azerbaijan will work on localization of raw material base, modernization of the enterprise, reduction of losses and improvement of safety measures in the workplace. Under the MoU, it is also planned to invest more than AZN 25 million ($14.7M) in export of beer produced in the country, as well as in commercial projects aimed at the development of production in 2021-2025.
Additionally, the parties have agreed to cooperate in export projects in order to increase the competitiveness of “Made in Azerbaijan” products.
Addressing the meeting, Economy Minister Mikayil Jabbarov said that with the memorandum, the company intends to significantly reduce imports of raw materials by 2025 by supporting beer barley production in Azerbaijan. He added that expansion and localization of production will also increase of export opportunities and promote employment.
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